How to Withdraw PF online: Claim Status, Balance Check

How to Withdraw PF online

The full form of PF is Provident Fund and it is also known as EPF. The full form of EPF is Employees’ Provident Fund. It is a scheme run by the government, which is supervised by “Employees’ Provident Fund” i.e. EPFO (Employees’ Provident Fund Organisation). Under this scheme, such employees, organizations, companies come where 20 or more than 20 employees work. In this article, we are discussing about how to withdraw PF online from your home.

Withdrawal from EPF account can be implemented only when you become unemployed or retire. 75% of the money can be withdrawn from the EPF account after 1 month of being unemployed and the remaining 25% after 1 month. You can fill the claim online EPF withdrawal form to withdraw money. But you can apply online only if your Aadhaar is linked with your UAN.

How to Withdraw PF online

How to Withdraw PF online

Follow the steps given below to fill the EPF withdrawal form and apply online:

Step 1: Log in to the UAN Member Portal with the help of UAN (Universal Account Number) and Password

Step 2: Then click on the ‘Online Services’ tab and select ‘Claim (Form-31, 19 & 10C)‘ from the drop-down menu.

Step 3: Member details will appear on the screen. Enter the last four digits of your bank account and click on ‘Verify‘

Step 4: Click on ‘Yes‘ to proceed.

Step 5: Now click on the ‘Proceed for Online Claim‘ option

Step 6: Select ‘PF Advance (Form 31)‘ to withdraw your funds online

Step 7: From here a new section of the form will open where you will have to provide these details: the purpose for which the money is being withdrawn, the amount to be withdrawn, and the employee’s address.

Step 8: Tick on Certification and submit the application.

Step 9: You need to submit the scanned documents related to the specified purpose to withdraw money.

Step 10: To withdraw money from EPF account, you have to take approval from your employer/company, only after that the money will be deposited in your bank account.

An intimation will be sent to your mobile number registered with EPFO. When the application process is completed, the money will be credited to your bank account. Usually, the money gets credited to the bank account in 15 to 20 days, although EPFO has not given any time limit from its side.

How to Withdraw PF online

Eligibility Conditions for Withdrawal from EPF Account

Following are the eligibility conditions for withdrawing funds from EPF account:

1. Money can be withdrawn only after retirement. EPFO considers retirement only if the age of the individual is above 55 years.
2. Withdrawal from EPF account is allowed only in case of medical emergency, purchase or construction of house or higher education.
3. EPFO allows 90% withdrawal before 1 year of retirement.
4. If the employee faces unemployment before retirement then the entire amount can be withdrawn from the EPF account.
5. According to the new rule, only 75 percent of the money can be withdrawn after one month of unemployment. After getting employment, the balance amount will be transferred to the new EPF account.
6. Employees do not need to take permission from their employer/company to withdraw their EPF. Linking UAN and Aadhaar with your EPF account gives you permission online
7. While making an online claim, you must have- An active UAN number, UAN bank information, and PAN and Aadhaar details which are included in the EPF database

How to Withdraw PF online

EPF Withdrawal Form

You will get three EPF withdrawal forms while applying online for withdrawal.

PF Advance	Form- 31
Only PF Withdrawal	Form 19
Only Pension Withdrawal	Form 10C

EPF Advance / Partial Withdrawal – Form 31

Any EPF member can withdraw some part of the deposited amount from the EPF account by filling Form 31 in case of emergency even while working. Even if you are withdrawing money due to being unemployed, you will still have to fill Form 31. The reason for withdrawing money has to be mentioned in the form. The acceptance of the application amount depends on the withdrawal limit and the amount deposited in the EPF account.

EPF Complete Withdrawal / Final Settlement- Form 19

This form is filled after retirement to withdraw the entire amount deposited in the PF account. It is also known as ‘Final Statement’. You have to fill your personal and employment details like date of leaving company/institution, reason for leaving job, date of joining job, PAN, UAN and Aadhar number, bank account details, postal address etc.

Pension Withdrawal – Form 10C

Form-10C has to be filled for withdrawal of pension amount. If you are withdrawing PF on the basis of unemployment, then you have to fill Form 31 and Form 10C. It is similar to Form 19. The pension amount is regulated by the Employees’ Pension Scheme, 1950, while the PF amount is regulated by the Employees’ Provident Fund Scheme, 1952. So if you want to withdraw both PF and pension amounts, you have to fill two separate forms.

Composite claim form

To apply for withdrawal of money offline, you need to fill the composite claim form which serves the purpose of three forms, Form 19 (for PF), Form 10C (for pension), and Form 31 (part of PF amount).

How to Withdraw PF online

Required Documents

The following documents are required to withdraw money from the EPF account: How to Withdraw PF online

• Claim form
• Two revenue stamps
• Bank account statement
• Identity Proof
• Address Proof
• A canceled blank check containing the account number and IFSC code
• Personal information such as father’s name, date of birth, etc. matches with the information on the Identity Proof.

If the employee withdraws the amount from the EPF account before the completion of five years of service, he will also have to file ITR Form 2 and 3.

How to Withdraw PF online

EPF claim status How to Withdraw PF online

The EPF member can check the application status for withdrawing money from the EPF account on the portal. You have to log in to the portal and select ‘Track Claim Status‘ in the ‘Online Services‘ section. You will not have to give any other number for this. The status will start showing on the display.

Benefits of applying online for EPF withdrawal

It has many advantages like-

Withdraw money easily:

By applying online, you do not have to go to the PF office and you also avoid waiting in line. All you have to do is fill the online form.

Reduced Processing Time:

In the online application process, the amount is credited to your bank account in 15 to 20 days.

No need to visit the previous company/institution for verification:

Where in the case of offline application, you have to get the documents attested from the company/institution, in the case of online this verification becomes automatic. These are beneficial for those who move from one city to another.

Limit on withdrawal of EPF amount

An employee can withdraw funds from his EPF account only in the following situations:

Construction / Purchase of a house

• The employee must have been in continuous service for 5 years
• Only PF account holder and his/her spouse can apply for withdrawal
• The amount that can be withdrawn is limited to 24 times of monthly salary for purchase or 36 times of monthly salary in case of purchase and construction (both)

Home Loan Repayment

• The employee must have been in continuous service for 3 years
• Only PF account holder, and his/her spouse can apply for withdrawal
• 90% of the amount can be withdrawn

Home Repair

• The employee should be in continuous service for 5 years from the date of completion of construction of the house
• Only PF account holder and his/her spouse can apply for withdrawal
• An amount equal to 12 times of monthly salary can be withdrawn

Marriage

• An employee must be in continuous service for 7 years
• PF account holder, his/her siblings and/or children can apply for withdrawal
• 50% of the employee’s contribution with interest can be withdrawn

Medical Treatment

• There is no minimum working time period
• PF account holder, his/her parents, spouse or children can apply for withdrawal
• An amount equal to the employee’s contribution to the EPF account or 6 times his monthly salary, whichever is less, can be withdrawn with interest

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Tax on withdrawal from EPF account

There is no tax to be paid on withdrawing money from the EPF account. But with the following conditions:

1. The employee must have contributed to the EPF account for a minimum period of 5 years. You will have to pay tax on withdrawing money before this
2. Tax will be levied only on withdrawal of more than Rs 50,000 from EPF account before five years
3. If the employee gives his PAN no, then he will have to pay 10% TDS or else the TDS rate will be 30%. Tax will also be deducted along with TDS if PAN is not given.
4. If the employee’s income is not taxable, then he has to file Form 15G/15H
5. If an employee transfers his EPF fund to the National Pension Scheme, then he will not pay tax.
6. How much tax will have to be paid by the employee on withdrawal, it depends on his income and in which year the money is being withdrawn

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